1/13, 2:09 PM (Source: TeleTrader)
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Citigroup's Q4 revenue up 6% to $18B

Citigroup Inc. reported on Friday that its total revenues for the fourth quarter of fiscal 2022 stood at $18 billion, up 6% from the corresponding period in 2021. The bank's diluted earnings per share stood at $1.16, falling 21% from the closing quarter of 2021. Net income also dropped 21%, coming in at $2.5 billion.

Full-year 2022 total revenue grew 5% from 2021 to $75.34 billion while net income contracted by 32% to $14.8 billion.

"Services [revenues] delivered another excellent quarter, and we have gained significant share in both Treasury and Trade Solutions and Securities Services. Markets [revenues] had the best fourth quarter in recent memory driven by a 31% increase in Fixed Income, while Banking and Wealth Management were impacted by the same market conditions they faced throughout the year," CEO Jane Fraser said. Citigroup's shares were 0.20% lower in the premarket following the release of the report.

Baha Breaking News (BBN) / MS